Ernest Scheyder, Reuters
WILLISTON, N.D. - The clock kept ticking in April on a suspension of North Dakota's oil extraction tax after a state-calculated average of the month's crude price fell below $52.59 per barrel for a fourth straight month.
WILLISTON, N.D. - North Dakota, the second-largest U.S.
WILLISTON -- Oil producer EOG Resources Inc. has the lion's share of an estimated 900 North Dakota wells waiting to be fracked, according to state data, showing that even major oil titans are mothballing operations while they hope for a rebound in oil prices. For months the conventional wisdom in North Dakota's Bakken shale formation had been that smaller producers with weak cash flow comprised the bulk of that estimate.
WILLISTON, N.D. - One of North Dakota's largest oil-producing counties has approved a $500 million development with new stores, apartments and an indoor water park. The project shows that even with a 50 percent drop in crude oil prices since last summer, developers see long-term potential in building amenities to serve the state's oil counties, which the U.S.
WILLISTON, N.D. - The tech geeks are coming to the oil industry's rescue. With the price of crude plumbing lows not seen since 2009, Royal Dutch Shell, Whiting Petroleum Corp and many others are turning to rocket fuel, Big Data, lasers, spectrometers and other new or revamped technologies to do more for less.
WILLISTON, N.D. - Business and community leaders in North Dakota's western Oil Patch have launched an aggressive campaign to convince more manufacturers to set up shop locally, part of a push to expand the area's economy beyond crude production and slash costs.